ME Coastal Housing Report – January 2010

The residential real estate markets in coastal Maine were largely quiet like the rest of the state in January.  As I type this post however the markets have significantly heated up and it seems the stage has been set for very strong results this spring thanks largely to the tax credit and continued low interest rates.

The mid coastal housing markets are anchored by the cities of Bath and Brunswick that saw a total of 14 homes sell in January 2010 compared with just 4 in January 2009.  Volume was way up and pricing for these sold homes clocked in at a median sold price of 175K in Brunswick and 120K in Bath compared with 222K and 138K a year prior although the very small sample sizes in 2009 undoubtedly skewed these numbers. Median pricing in Brunswick and Bath for the entire 2009 year taken as a whole was 206K and 128K.

Prices do appear to have stabilized and watch for improving statistics as we move forward.